STAFFING CHANGES AT THE IVSC

The International Valuation Standards Council (IVSC) Trustees have undertaken a review of the staff resources required to implement the changes to the organisation anticipated as a consequence of the report issued by an independent Review Group in March 2015. As a result:

Marianne Tissier: The role of Executive Director has been made redundant and consequently Marianne Tissier, has left the IVSC with immediate effect. I would like to thank Marianne for her significant contribution to the development of the IVSC, she left us with our best wishes for the future.

Chris Thorne: The role of Technical Director has been made redundant and consequently Chris Thorne, will be leaving the IVSC with immediate effect. I would like to thank Chris for his significant contribution to the development of the IVSC, he leaves us with our best wishes for the future.

Sir David TweedieChairman Board of Trustees

Further to the Review recommendation that the IVSC should work using seconded resource we announce the first of these. The Trustees believe this staffing approach will benefit IVSC, economically and strategically, through closer collaboration with VPOs and other stakeholders.

Nick Talbot, of RICS, has taken up the role of interim CEO on a part time basis and can be contacted on ntalbot@ivsc.org Alexander Aronsohn, RICS, will support the Standards Board in the area of Real Estate on a part time basis aaronsohn@ivsc.org Ken Creighton, RICS, will work on a part time basis with Nick Talbot in supporting the work of the IVSC Trustees Adam Smith, PWC, will be based in the USA and from 1 July will work half time on IVSC matters in the area of business valuations and help structure the approach to standards and guidance The Trustees are also very grateful that Mary Jane Andrews, retiring partner of KPMG, Canada, will continue in the meantime as Advisor to the Professional Board.

The Trustees are expecting to announce other secondments soon; but would also welcome hearing from other organisations who would like to discuss the possibility of seconding staff to the IVSC. Please email Janet Smy at jsmy@ivsc.org if you would like to learn more. For general inquiries you may email contacts@ivsc.org

MODEL GOVERNANCE GUIDE AND ASSESSMENT TOOL PUBLISHED ON WEBSITE

The IVSC has made available on its website a model governance guide and assessment tool. These two publications have been developed to assist Valuation Professional Organisations in setting principles of good governance for the establishment and functioning of their Council or Board of Directors.

This Model Guide provides practical assistance to the developing profession to support current and prospective member bodies in their efforts to become fully effective VPOs, contributing to economic growth and stability worldwide. This Model Guide provides further detailed guidance in support of the publication issued by the IVSC entitled "Establishing and Developing a Valuation Professional Organisation.

THE IVSC AND THE APPRAISAL FOUNDATION (TAF) COLLABORATE TO BRING GREATER CONSISTENCY TO APPRAISAL STANDARDS

The IVSC and TAF are working to harmonize any remaining differences between the IVSC's International Valuation Standards (IVSs) and the Foundation's Uniform Standards of Professional Appraisal Practice (USPAP).

Representatives from the IVSC's Standards Board and the Foundation's Appraisal Standards Board recently met to establish joint objectives and a long-term plan to collaborate and execute upon the Memorandum of Understanding (MoU) signed in October 2014.

This will be accomplished, in part, through a document that will act to bridge the two sets of standards. Appraisers using this "bridge document" will be able to develop appraisals that are compliant with both the IVSs and USPAP, keeping the core principles intact.

Sir David Tweedie, Chairman of the IVSC Board of Trustees said:"The MoU has reinvigorated our long-term relationship between the IVSC and TAF. We are now determined to capitalise on the wealth of expertise we have at our disposal in our common goal of establishing a globally accepted set of valuation standards. Bringing USPAP and the IVSs together is an extremely important step towards achieving this goal."

9TH INTERNATIONAL CONFERENCE ON THE VALUATION OF PLANT MACHINERY AND EQUIPMENT

The 9th International Conference on the Valuation of Plant Machinery and Equipment is taking place 26-28 October 2015 in Tokyo, Japan.